Can your vendors provide utilization and demand after contract signature?
Today’s post is by Ronald D. Southard, CEO at SafeSourcing Inc.
What type of systems do your vendors and suppliers have in place in order to manage your specific contract utilization and demand once you have awarded them your business. Many large manufacturers may have the capability but what about regional and local suppliers, particularly in the mid markets. Maybe you should ask so you are not caught short. Read on to understand the questions to ask.
The order/demand capture systems obtain information about a specific customer order as it happens. The software aggregates and evaluates customer orders and calculates how much of what product should be made in the future. There, the information received by these systems would be critical in order to improve the forecasting accuracy, fill rates, and customer satisfaction. If the amount of lost demand is significant, a company would become continuously out of stock of highly requested items, as purchases will never be forecasted to true demand.
SafeSourcing is an eprocurement company that operates across multiple industries. As such we have specific experience in almost any commodity, service or capital related spend. Our SafeSourceIt™ Global Supplier Database requires our suppliers to adhere to multiple certifications and are vetted for the tools they use to support your buying habits. To learn more, please contact a SafeSourcing customer services associate.
